About this web page, you will find proposals to boost or change the method through which pupils borrow and repay their loans.
For education loan and payment proposals through the previous sessions of Congress, go to the Tracker that is legislative Archive Loans & Repayment.
*NEW* S. 3055 – Pupil Loan Repayment Freedom Act
Sponsor: Sen. Murkowski R-AKCosponsors: 2 (1D; 1R)Introduced: 12/16/2019NASFAA Overview & research: This bill would allow a student-based loan debtor to go out of their income-based payment plan and rise portal repay under just about any loan payment arrange for that they meet the criteria.
*NEW* H.R. 5287 — Fair Education Loan Debt Collection Techniques Act
Sponsor: Rep. Lawson D-FLCosponsors: 0Introduced: 12/03/2019NASFAA Summary & research: This bill would prohibit collecting from the borrower during any time frame that an identical debtor wouldn’t be expected to make a re payment under a plan that is income-driven. Loan companies would be forbidden from gathering from a debtor a quantity this is certainly significantly more than a comparable borrower would have paid in a single thirty days under an IDR plan.